just-food presents the key metrics from company financials in bitesize format, with analyst insight and social media comment alongside graphs illustrating a business' historical performance to give you an easy-to-read digest of the numbers you need to know.

Arca Continental sees surge in FY sales

Mexican food and beverage business Arca Continental has seen its 2017 sales increase by an impressive 46.4% on a like-for-like basis. Profits were also up, by 44.9%.

CEO Francisco Garza Egloff said: "Thanks to our discipline and innovation in market execution, as well as the passion of every member of
the Arca Continental team to better serve every day, our customers and consumers, we were able to once again, double our revenues in five years in a profitable and sustainable manner.

"This result does not include the effects of the new operations acquired in the US.

- Net sales up 46.4% at MXN137.1bn (US$7.38bn)

- Operating income up 37.5% at MXN22.4bn

- EBITDA up 29.4% at MXN25.9bn

- Net profit up 44.9% at MXN13.09bn

Comvita returns to profit on US sales boost

New Zealand's largest honey producer, Comvita, returned to profit in the six months to 31 December, helped by sales to North America.

CEO Scott Coulter says: "Comvita's total sales were up 45% on the prior period, driven by sales to North America, which reached NZD19.6m for the half-year period compared to NZD1.6m on the prior period, and meets our strategic objective of market diversification."

- Sales rise to NZD83.6m (US$61.3m)

- EBITDA climbs to NZD9.9m profit from a NZD2.8m loss a year earlier

- Net profit after tax NZD3.7m compared to loss of NZD7.1m

For the full-year, the company expects profit after tax of more than NZD17.1m based on the assumption of a normal honey production season.

Thursday 22 February

Grupo Nutresa FYs in positive territory

Colombia-based food group Grupo Nutresa saw both sales and profits increase in full year 2017, on a year-on-year basis.

Sales abroad were also up by 5.7% and accounted for 36,8% of Grupo Nutresa's total sales.

Sales up but profits sag at bread giant Bimbo

Bimbo's net sales climbed more than 6% in 2017, helped by organic growth in Mexico and acquisitions.

However, Bimbo's operating income and net majority income were lower. The company's divisions of Latin America and a combined Europe/Asia/Africa remained loss-making, with the latter's spiking amid "integration delays" in Iberia.

US-based Hormel Foods, which produces Spam and Justin's peanut butter, has seen a 19.7% hike in net earnings for its Q1 2018, on a like-for-like basis.

CEO Jim Snee said: "We are pleased to report a strong quarter of earnings growth. In addition to the benefit from tax reform, Grocery Products delivered excellent earnings growth which was partially offset by continued challenges at Jennie-O Turkey Store and higher-than-expected freight costs.

"This quarter we also completed the strategic acquisition of Columbus Craft Meats. The Columbus brand is on-trend with today's consumer and meaningfully changes our presence in the deli while helping us become a broader food company."

"Poultry market prices for tray pack products sold to retail grocery store customers were higher when compared with the same period a year ago and continued to reflect a healthy supply and demand balance in that customer market. On the other hand, the overall food service market remains weak. Traffic numbers through legacy food service chains continue to trend lower, and market prices for boneless breast meat reflect that weakness."

Australia's Ingham's Group, the country's largest integrated poultry producer, has seen its net profits increase by 28.1% in its H1 2018 results, compared to the equivalent period in its 2017 trading year.

But sales were down slightly on the back of higher costs.

CEO Mick McMahon said: "The results are pleasing and reflect both good progress on implementing our strategy and continued strong demand for Ingham's quality products supported by consumer preference for great value, healthy and versatile poultry products."

Mexican tortilla maker Gruma saw its Q4 sales decline by 3% on a like-for-like basis. It lost a week of operations in the US because of hurricane disruption and was also affected by exchange rate fluctuation. Income was up by 8%.

The company - which makes the Mission brand tortillas - said: "Performance in 4Q17 enabled the company to remain in line with guidance for full year results, despite the temporary disruptions from the hurricanes in the United States in 3Q17.

"It should be noted that performance at Gruma USA in 4Q17 reflected the effect of one less week of operations versus 4Q16. Therefore, consolidated sales volume was flat and net sales were 3% lower. Consolidated results were also impacted by the peso appreciation effect on Gruma USA figures, when measured in peso terms."

Canadian frozen seafood specialist High Liner Foods saw its full year 2017 sales increase, on an equivalent basis with the prior period, but net income and EBITDA were both down.

CEO Henry Demone said: "Year-over-year reported sales and sales volume improved in the fourth quarter of 2017, bolstered further by the acquisition of Rubicon, however, gross profit and adjusted EBITDA were below our expectations due to under performance across the business.

"Both our Canadian and US operations experienced unfavourable changes to product mix and increased costs. We are committed to improving performance in 2018 and plan to do this through actions on pricing, costs, supply chain effectiveness and product innovation."

- Net sales up 5.3% at US$1.05bn

- Adjusted EBITDA down 18.6% at $66.1m

- Net income down 2.2% at $31.6m

Arla points to organic growth as profits fall

Arla Foods today (21 February) reported rising annual sales - boosted by a record rate of organic growth for the European dairy giant - but the Castello and Lurpak owner saw its profits fall in 2017.

Natalie Knight, Arla's CFO, said Arla had booked "the single biggest organic revenue increase inside one year in company history", helped by the group's "continued drive into international markets".

Despite the lower profits - recorded in part as Arla lapped a gain it booked on an asset sale last year - the company said its net profit of 2.8% of revenue was within its targeted range.

Arla expects its revenue in 2018 "to be at a similar level of EUR10-10.5bn" while the co-op is continuing to targeting a net profit share of 2.8-3.2% of revenue. It foresees seasonality having "a high impact" on its half-year results, which are expected to be "below the annual target range".

South Africa-based consumer goods group Tiger Brands has reported a decline in revenues during the first four months of its financial year.

In the period to the end of January, Tiger Brands' revenues fell 5% amid a 4% drop in volumes.

Tiger Brands said the decline in volumes was "driven mainly by the home and personal care categories and exports".

However, the company said its gross profit had risen year-on-year thanks to a stronger exchange rate and lower raw-material costs.

Nevertheless, Tiger Brands added: "The group's performance for the remainder of the 2018 financial year is likely to be impacted by the slow start to
the year. Any meaningful recovery remains dependent on an improved consumer environment which may be influenced by measures to be announced in the budget speech later today."

Group managing director Siobhan Talbot said: "The strategic evolution of the group portfolio continued in 2017 with the acquisition of two highly complementary businesses to the GPN portfolio, Amazing Grass and Body & Fit as well as the disposal of 60% of Dairy Ireland and the subsequent creation of the Glanbia Ireland JV.

"These initiatives demonstrate the ambition of the group to build on its existing strengths, drive future sustainable growth and deliver on our vision to be one of the world's top performing nutrition companies."

- Revenue up 9.2% at EUR2.38bn (US$2.93bn)

- Operating profit down 2.8% at EUR215.2m

- Profit for year up 55.3% at EUR329.4m

Jefferies analyst Martin Deboo said: "Fiscal year 2017 is in line, with a strong finish to the year in Glanbia Performance Nutrition. The dividend is ahead 65%. Fiscal year 2018 guidance reflects a year of volume-led growth and is for 5-8% earnings per share growth at constant forex, weighted towards H2. Forex guidance of an 8% headwind implies flat to modestly declining headline earnings per share, in the range of both Jefferies and consensus. Dairy deflation looks set to make FY18 a challenging year."

Tuesday 20 February

FY sales up but income well down at Fresh Del Monte

Full-year 2017 sales were marginally up on the previous year at US fresh fruit and vegetable supplier Fresh Del Monte Produce but income was down by a huge 46.3% amid lower selling prices and higher distribution costs.

CEO Mohammad Abu-Ghazaleh said: "We were pleased with the momentum in diversifying our business in 2017. Throughout the year, we continued to execute our strategic initiatives to leverage our infrastructure and keep pace with the rapidly evolving consumer needs."

Ireland-based Kerry Group's consumer foods division posted an increase in full-year sales, but profits fell partly because of the adverse impact from sterling. The company said the snacking sector continued to drive category growth, while the grocery dairy business maintained growth in a "challenging category environment''.

Norwegian seafood giant Marine Harvest has booked record turnover figures for 2017 after a storming last quarter but, despite this, the company has instigated a costs savings programme.

CEO Alf-Helge Aarskog said: "2017 was a great year for Marine Harvest financially, and I am proud of the work all Marine Harvest staff have put in to accomplish this. However, I am concerned about the rising cost and the challenging biology. Hence, we have initiated a global cost savings programme with a target of EUR50m savings. The savings are expected to be realised in all parts of the organisation."

Christmas sales boost Scandi Standard's FY results

CEO Leif Bergvall Hansen said: "The positive trend in income was driven by unusually strong Christmas sales, a favourable product and channel mix as well as higher yield in production.

"Through investments in Sweden and Norway in the past years, we have achieved substantial growth in net sales of ready to eat products. In order to meet a further increase in demand for these products from our large customers, such as McDonalds, we have decided to expand capacity at our plant in Farre, Denmark."

- Net sales up 19% to SEK7.1bn (US$885.2m)

- Operating income up 24% to SEK284.7m

- Income after finance net up 34% to SEK223.6m

Thai Union posts "record'' annual profits

Thai Union Group said its "record'' 2017 sales and profits were driven by "prudent cost control and strong foreign exchange gains'', which offset the impact from rising raw material prices, particularly tuna.

Arla Foods aims to remain the leading dairy producer in Denmark over the forecast period. However, given the limited development potential of dairy in Denmark, the company is also expected to focus on...

Packaged food in Denmark continued to post stable growth in current value sales in 2017. Following gradual improvements in macroeconomic conditions throughout the review period, current value growth w...

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